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Nov 28, 2012
11/12
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how about taxes? when i tell people that obama wants to lower corporate taxes they don't believe me. listen to obama and see if you can tell what he wants to do. >> we have one of the highest corporate tax rates in the world, but it's riddled with exceptions and special interest loopholes. we can lower the corporate rate if we get rid of all these specials rates. >> not increase, lower the corporate rated. he's saying it. you just don't want to listen to it. ok? he is conservative. he's a blue dog. he wants to do the same plan the republicans want to do, just a little lighter. so what's on the -- what do we know about this grand bargain and what's still on the block? first of all cutting medicare. unquestionably, no question, it has been offered in every single deal, it is offered up now, dick durbin is still talking about how they call it reform. they're cutting it, cutting it, cutting medicaid, unquestionably, that has been offered every single time and they'll cut it. they are going to lower corpor
how about taxes? when i tell people that obama wants to lower corporate taxes they don't believe me. listen to obama and see if you can tell what he wants to do. >> we have one of the highest corporate tax rates in the world, but it's riddled with exceptions and special interest loopholes. we can lower the corporate rate if we get rid of all these specials rates. >> not increase, lower the corporate rated. he's saying it. you just don't want to listen to it. ok? he is conservative....
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Dec 5, 2012
12/12
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CURRENT
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they realize that our taxes are going to be up a little bit. they know there is going to reform to social security and medicare, they want to know so they know how to plan for their companies. i hope it's resolved before i get there if not so be it, i see this as an opportunity for america to lead the way. china is slowing down. india is slowing down. europe is in a recession. south america is slowing down. we have an opportunity to lead out of this mess. i hope we take the lead. >> jennifer: everyone wants to prevent going over over the cliff you still will have a lot of issues on how best to lead the country forward. allen west will be gone but there will be tea partyers remain. how do you work with people who think compromise is a bad word? >> look, i was just earlier with the republican part of my district today and met with a lot of republican commissioners. the message i told them is what i told everybody. whether you're a republican, democrat, i have an open door. i want to hear your thoughts, your concerns and i want to be your voice in
they realize that our taxes are going to be up a little bit. they know there is going to reform to social security and medicare, they want to know so they know how to plan for their companies. i hope it's resolved before i get there if not so be it, i see this as an opportunity for america to lead the way. china is slowing down. india is slowing down. europe is in a recession. south america is slowing down. we have an opportunity to lead out of this mess. i hope we take the lead. >>...
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Nov 30, 2012
11/12
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CURRENT
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because the progressive tax rates, they encourage all sorts of tax evasion tax be avoidance and you know, they alter people's behavior in order to reduce their tax liability. so you know instead of investing here, you'll invest in some other country with a lower tax rate. you've had those kind of behaviors which would be narrow and progressive tax rates. hence, the money that you raise at the end of the day is not very much. >> eliot: you raise and sharpen our focus on the other side of the equation. as i was reading the article i said wait a minute, we're focusing so much on how we raise the money rather than how and where we spend it. and how much we spend. in a way we've been sucked into this debate about making a tax system progressive without looking as you say we should at how much we spend on the social programs that actually do redistribute. >> that's right. that's what really makes a difference. if you look at how effective taxes are at reducing inequality, they're really not very effective anywhere. what's really effective is spending. because you know, you can really -- if you
because the progressive tax rates, they encourage all sorts of tax evasion tax be avoidance and you know, they alter people's behavior in order to reduce their tax liability. so you know instead of investing here, you'll invest in some other country with a lower tax rate. you've had those kind of behaviors which would be narrow and progressive tax rates. hence, the money that you raise at the end of the day is not very much. >> eliot: you raise and sharpen our focus on the other side of...
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Dec 4, 2012
12/12
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CURRENT
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tax cuts for the top 2%. and they are like here is our offer. if you are going to make a deal at least deal something somebody actually wants. >> yeah. >> stephanie: serious plan. they are like they won the election. >> it is totally farfetched and they are like i don't understand why he doesn't want it. >> stephanie: all right. here she is, jacki schechner in the current news. >> good morning. we already know that ashley judd can show a much wider range of emotion that some. she has been taking steps to assess her options when it comes to running for office. she is doing opposition research on herself to see where she might be most vulnerable. mcconnell will be running for his sixth term another option is to run against senator rand powell in 2016. there is a briefings tomorrow on the september 11th attack on our console consoleate attack in benghazi they the talking points were watered down by the cia. it said the notes did contain reference to al-qaeda but the cia took it off. elizabeth warren has won a sp
tax cuts for the top 2%. and they are like here is our offer. if you are going to make a deal at least deal something somebody actually wants. >> yeah. >> stephanie: serious plan. they are like they won the election. >> it is totally farfetched and they are like i don't understand why he doesn't want it. >> stephanie: all right. here she is, jacki schechner in the current news. >> good morning. we already know that ashley judd can show a much wider range of emotion...
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Dec 6, 2012
12/12
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CURRENT
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our tax revenues are down. historically they have been about 18 to 19% of the gross domestic product. part of that is the recession, but significant loss of revenue is because of the bush tax policies, and it was based on this idealogical fiction if you lower taxes it will increase revenues. and their focus was lowering taxes at the high end. we had higher tax rates under clinton, and we created 40 million jobs and had a surplus. then the bush folks came in put the war on the credit card prescription drugs on the credit card, and lowered taxes at the high end, and we had only 700,000 jobs, and had astonishing deficits since then. >> stephanie: the same l.a. times piece even makes that case with the war in afghanistan winding down, the military is asking for less than congress wants to give. so i think there has been so much hysteria over this fiscal cliff that i'm not sure it's warranted. >> that's exactly right. and also the ryan budget you know, their doctrine -- and it really is doctrining. lower taxes for t
our tax revenues are down. historically they have been about 18 to 19% of the gross domestic product. part of that is the recession, but significant loss of revenue is because of the bush tax policies, and it was based on this idealogical fiction if you lower taxes it will increase revenues. and their focus was lowering taxes at the high end. we had higher tax rates under clinton, and we created 40 million jobs and had a surplus. then the bush folks came in put the war on the credit card...
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Nov 30, 2012
11/12
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CURRENT
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all of the bush tax cuts will have gone away. some maintain that in that environment, if the president put forward a tax cut bill for all of those under 250,000, that the republicans would reject it and insist on something for the wealthiest as william. that just isn't realistic. i can't imagine that in that kind of environment when given the option of extending tax cuts or reinstating them for all of those middle class families that the g.o.p. would stand in the way. so from a leverage point of view, i think the g.o.p. one of the reasons i think they are starting to cave on the issue is they realize they are in a far weaker position. >> as you point out let's say we get up to the deadline and the republican position still is: no on the 98% unless we get the tax cuts extended for the top two % as well. you are president obama. do you take that deal or say no deal? >> you say no deal. you say no deal. >> you have to. don't you? >> the election has to have meant something. this was a central facet of the election that, you know, th
all of the bush tax cuts will have gone away. some maintain that in that environment, if the president put forward a tax cut bill for all of those under 250,000, that the republicans would reject it and insist on something for the wealthiest as william. that just isn't realistic. i can't imagine that in that kind of environment when given the option of extending tax cuts or reinstating them for all of those middle class families that the g.o.p. would stand in the way. so from a leverage point...
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Dec 6, 2012
12/12
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CURRENT
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the risk is if we do go over the cliff, allow taxes -- that means taxes on every american will go up. every taxpayer will go up first of the year. not just on the top 2%. and somebody's going to get the blame for that. we're counting on the republicans -- americans knowing that republicans are to blame. is that the case? do you agree. 1-866-55-press. is that what the president ought to do. 1-866-55-press. one thing you ought to -- before we get back to your calls urge you to consider, particularly if you are one of those families struggling to make ends meet at the end of every month and who's not, take a look at incomeathome.com. no obligation. just check it out. they're america's leading work from home business and they're offering you an opportunity you can do. in matter your age education or experience, you can literally earn money on your own laptop from your own kitchen table 24/67. it is at least worth checking out. if you're sick of living paycheck to paycheck, worried about job security or retirement if your goal is to.earn extra money part-time or full time, they're adding m
the risk is if we do go over the cliff, allow taxes -- that means taxes on every american will go up. every taxpayer will go up first of the year. not just on the top 2%. and somebody's going to get the blame for that. we're counting on the republicans -- americans knowing that republicans are to blame. is that the case? do you agree. 1-866-55-press. is that what the president ought to do. 1-866-55-press. one thing you ought to -- before we get back to your calls urge you to consider,...
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Dec 5, 2012
12/12
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more than they would ever need for a tax cut. the president said the senate says i have my pen. i am ready to sign it. all we need is a vote in the house. why won't that take place? >> trying to get enough signatures for a discharge. >> getting ahead of yourself? >> yeah. >> why no vote? >> it's complicated. i think that what we are seeing now is not any sort of real negotiation. it is a battle of messaging to try to secure aparticular victories. one of the most interesting things about this entire debate is we are focused on the tax season. this is what people feel in their pockets. i think one-of the biggest issues that the white house has to think about is the debt ceiling because last time in the lame duck, they didn't take the republican threat seriously they weren't going to raise it. they thought that that was a lot of hot air on the campaign trail from people like michelle bachmann. it wasn't. if they don't raise the debt ceiling now and they come up with any sort of agreement, john boehner can come to them. >> you are ge
more than they would ever need for a tax cut. the president said the senate says i have my pen. i am ready to sign it. all we need is a vote in the house. why won't that take place? >> trying to get enough signatures for a discharge. >> getting ahead of yourself? >> yeah. >> why no vote? >> it's complicated. i think that what we are seeing now is not any sort of real negotiation. it is a battle of messaging to try to secure aparticular victories. one of the most...
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Dec 3, 2012
12/12
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CURRENT
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tax cuts, big tax cuts for rich people started under george w. bush and then we had the biggest economic collapse since the great depression. what does that tell you? >> stephanie: why can't they ever acknowledge that? they ran away from bush. no one campaigned on george bush. they must know his policies didn't work. why are they pretending they did? >> he wasn't even at the convention. >> memory hole. >> stephanie: gee, who was really front and center of our campaign? bill clinton! kind of weird. >> good president. >> stephanie: mary in pennsylvania. hi mary. >> caller: hi, there. i love your show. didn't start watching it until late in the campaign. and i feel like i found a wonderful friend. >> stephanie: aww. >> caller: my question is grover cleveland -- >> stephanie: his ideas are just as fresh. [ laughter ] >> caller: exactly. if he think the average career only lasts 25 years has he signed up all of those people to the pledge 20 years ago shouldn't we be getting ready to throw him a retirement party pretty soon? >> stephanie: yeah, one wou
tax cuts, big tax cuts for rich people started under george w. bush and then we had the biggest economic collapse since the great depression. what does that tell you? >> stephanie: why can't they ever acknowledge that? they ran away from bush. no one campaigned on george bush. they must know his policies didn't work. why are they pretending they did? >> he wasn't even at the convention. >> memory hole. >> stephanie: gee, who was really front and center of our campaign?...
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Dec 5, 2012
12/12
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give 98% of us tax relief. the things that both sides agree on and then the president yesterday thinks the president is poised to take off. obviously going over the cliff is the last thing anybody wants right now. >> i agree. i hear people on both sides talk about that. it may have been a contrived cliff. i know some folks call it a curve or whatever they want to call it. the fact of the matter is a large portion of any economy is the psychological effect of it. and you can't tell me that middle class -- i'm a teacher my wife and i -- that they're thinking about what happens if that tax bill changes on january 1st and they're making decisions about their spending right now. that's reality. the one thing i agree with republicans on in the 2010 elections was that the economy needed certainty. the thing that frustrates me is it is creating more uncertainty by them not signing on to this and passing it. >> stephanie: absolutely. what i was saying last hour, representative, the thing we're not falling for is some of
give 98% of us tax relief. the things that both sides agree on and then the president yesterday thinks the president is poised to take off. obviously going over the cliff is the last thing anybody wants right now. >> i agree. i hear people on both sides talk about that. it may have been a contrived cliff. i know some folks call it a curve or whatever they want to call it. the fact of the matter is a large portion of any economy is the psychological effect of it. and you can't tell me that...
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Dec 2, 2012
12/12
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>>host: effuse download the apps to the free taxing and i want a tax on this size screen and if your eyes are6 c13 and south as mine are this is where i would like textured downloaded from the amazon at stores you can tax it to your daughter's phone but you can see where you are doing and that is the thing that is so remarkable. it also includes stylus which makes it so easy and where 2000 have been ordered to you must really be going to your phones because if you have had your heart desired and it is literally everything you everd at tablet but do not wait. i know what happens with midnight shows i'd do if i tune in and i write the item number down and i go about my day and then will tell you if you do that on this you will not
>>host: effuse download the apps to the free taxing and i want a tax on this size screen and if your eyes are6 c13 and south as mine are this is where i would like textured downloaded from the amazon at stores you can tax it to your daughter's phone but you can see where you are doing and that is the thing that is so remarkable. it also includes stylus which makes it so easy and where 2000 have been ordered to you must really be going to your phones because if you have had your heart...
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he raised taxes on the democrats promised him $2 in spending cuts for every dollar in new taxes. george bush is still waitin for those $2 in spending cuts. now the present is saying to live in give you two and a half to one. it's time the democrats and the president stepped up and cut spding. gerri: to that point. want you to respond to what the white house had to say in response to the republicans offer and then go to michael's point about what you will actually get latr. here is what dan pfeiffer said. it promises to lower rates for the wealthy and stickhe middle-claas with the bill. we could do it pinocchio test. is that true or false? >> completely false. they want to keeall the race the same. now lower than for anybody. and maintaining the status quo on rates. the deductns are actually targeted for upper-ince people. the dmocrats, the white house, some left wing groups that on behalff the white house imagined how they would design the republican plan and then they attack it. dishonest during the ampaign, and the president is still running a political capaign. he's been all o
he raised taxes on the democrats promised him $2 in spending cuts for every dollar in new taxes. george bush is still waitin for those $2 in spending cuts. now the present is saying to live in give you two and a half to one. it's time the democrats and the president stepped up and cut spding. gerri: to that point. want you to respond to what the white house had to say in response to the republicans offer and then go to michael's point about what you will actually get latr. here is what dan...
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raising taxes on dividends dapital gains. given the president's collecvism i feel so sort of direct confiscation of people's 401(k)s is not impossible t begin with. it is a temendous amoun of weth. at the very lett might eliminate tax defermen people enjoyed. further down thespectrum could be o rit wealth tax. it happened many times in the past. it happened in ireland. it happened in argentina. could happen here as well. gerri: here is ts big pot of mone 18.5 trilln dollars. we know how the people are in washington. theyike to get their hands on whatever ty can. jonathan, let me tell you this. i had a guest on this week, that told me it was irresponsible, irresponsible for journalists to report the possibility that the government's sticky fingers might get on to our 40k)s. do you agree? >> i don't disagree attall. gerri. hopefully it is a warning gn. the president's proposal has en widely reported contained no net new tax cuts spending cuts. so there has been no real effort to reduce sppnding. interesting stat i wws keeping a
raising taxes on dividends dapital gains. given the president's collecvism i feel so sort of direct confiscation of people's 401(k)s is not impossible t begin with. it is a temendous amoun of weth. at the very lett might eliminate tax defermen people enjoyed. further down thespectrum could be o rit wealth tax. it happened many times in the past. it happened in ireland. it happened in argentina. could happen here as well. gerri: here is ts big pot of mone 18.5 trilln dollars. we know how the...
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Dec 6, 2012
12/12
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CSPAN2
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as i said the entire tax code is becoming a tax incentive. where you draw the line the amt usually goes to tax incentive bills and the fact the senate finance tax bills this year, the senate didn't pass it, the finance committee passed it and included tax extenders and the ones you went over but also included the amt patch indexing to inflation. >> so if these tax extenders have to be dealt with by the end of the year and in the fiscal cliff negotiation, what are the options for congress right now on december -- what is it the sixth today? >> these are kind of an afterthought at this point because often, as i said, all these are extended for your or two at a time. they talk about trying to make the list shorter, but if they have to, december 29th, they need to pass something, all they have to do is pass everything for a year and it won't costs so much. they get to this after figuring out the bigger question. >> host: they can do in one bill? text extenders and list the different -- >> guest: you will go in the big fiscal compromise and you wo
as i said the entire tax code is becoming a tax incentive. where you draw the line the amt usually goes to tax incentive bills and the fact the senate finance tax bills this year, the senate didn't pass it, the finance committee passed it and included tax extenders and the ones you went over but also included the amt patch indexing to inflation. >> so if these tax extenders have to be dealt with by the end of the year and in the fiscal cliff negotiation, what are the options for congress...
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Dec 6, 2012
12/12
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by the same time the chancellor is touting tax credits for working families and raising taxes and cutting benefits for the unemployed. now, mr. speaker, we do need to modernize our welfare state. those who work and can work should work. no ifs, ands or buts. so let us be clear. the chancellor claims he would cut the welfare bill, but higher inflation and long-term unemployment means the benefit is forecasted to be billions higher. the clue is in the name, mr. speaker. he cannot run a successful welfare to work program without work. and we know that the work program has totally failed with only two people in 100. we should be, mr. speaker. we should be requiring every long-term person to take a job. making sure that there is one there. let me ask the chancellor. one of the thousands now struggling to find a new job. he has announced today that he is cutting for jobseekers allowance for the next three years. how can that be fair when he is cutting the top rate tax? how can that be fair when someone earning 220,000 pounds a year will get a top rate tax cut of 75 pounds a week in april, which
by the same time the chancellor is touting tax credits for working families and raising taxes and cutting benefits for the unemployed. now, mr. speaker, we do need to modernize our welfare state. those who work and can work should work. no ifs, ands or buts. so let us be clear. the chancellor claims he would cut the welfare bill, but higher inflation and long-term unemployment means the benefit is forecasted to be billions higher. the clue is in the name, mr. speaker. he cannot run a successful...
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Dec 1, 2012
12/12
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CSPAN
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eye 130
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there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim from twitter says -- guest: absolutely. a lot of these credits and deductions, the standard deduction exceeds what you would get, that you just take that. host: the specific credits we have been talking about prompt a question from cindy. guest: yes. you generally have to be working are working outside the home. host: is there an hour requirements? guest: there are a lot of specific requirements. host: kay from richmond, virginia. caller: if somebody is working as hard as they can and making less than $50,000 a year, they count on this refund every y
there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim...
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Nov 28, 2012
11/12
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CNBC
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at the same time if the 2013 tax code more than doubles the taxes on dividends. i want to be there with my ropes, make them so i can secure myself and get them right back in. here's the bottom line. i don't want it to go over the fiscal. i'm a 46 in the adirondacks. the losses on the cliff won't impact the legislators until after the market climbs and unemployment skyrockets. it will be cause -- the cliff is going to close soon and you'll be up there with your home depot, sherwin-williams and at&t. why not be profitable on the other side of the valley. let's go to robbie in michigan, please. >> caller: with the 27% increase today, should i take my money and run? >> i don't know if it's going to be a 40. walt in new hampshire. how do youing? >> caller: boo ya from concord, new hampshire. >> "the monitor" me a job in 1977 and i almost took it. >> whirlpool, should i hang on? >> even though it's up 116%, it should not be sold. i owned it in the 50s in my law school dorm in 1983. let's hold on to this and go to patrick in washington. >> caller: hi, jim. booya. given
at the same time if the 2013 tax code more than doubles the taxes on dividends. i want to be there with my ropes, make them so i can secure myself and get them right back in. here's the bottom line. i don't want it to go over the fiscal. i'm a 46 in the adirondacks. the losses on the cliff won't impact the legislators until after the market climbs and unemployment skyrockets. it will be cause -- the cliff is going to close soon and you'll be up there with your home depot, sherwin-williams and...
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602
Dec 1, 2012
12/12
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MSNBCW
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eye 602
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second, state and local taxes paid. that's just a tax shift. instead of raising taxes on you by simply raising them on you, we raise them on you by making our state and local tax bill higher. it'll pound on high tax cities on states which means it'll hit the cities and states by making them less attractive places for people to live. there a political veilance here too. all ten of the highest tax states wept for president obama in 2012 and eight of the lowest tax states were for romney. that would be a particularly tough tax for blue states. them. charitable contributions. this is the most sensitive to tax incentives. you have to live somewhere, you need a home and it is hard it move it a new state because taxes went up. you don't need to give to charity. people give to charity because they want to and also, let's be real, because the government encourages through the tax code. it is reported in bloomberg in 2009 households with incomes of more than $200,000 claimed almost $60 billion in charitable deductions or 20% of total charitable giving in
second, state and local taxes paid. that's just a tax shift. instead of raising taxes on you by simply raising them on you, we raise them on you by making our state and local tax bill higher. it'll pound on high tax cities on states which means it'll hit the cities and states by making them less attractive places for people to live. there a political veilance here too. all ten of the highest tax states wept for president obama in 2012 and eight of the lowest tax states were for romney. that...
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Nov 29, 2012
11/12
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FBC
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it never has been a tax issue. we have the same amount of revenue coming in in 2012 tat we had in 2007, but we spend a trillion dollars more per year now th we did five years ago. thiss a spending issue. gerri: spending or revenue, that is, the amount of money taken in by the federal government has recovered, and it's doing much better. >> right. gerri: turning your tarns to a conversation going on for days lately. the most recent adherent oklahoma congressman tom cole saying, look, republicans need to compromise. they need to keep tax cuts in place forpeople earning $250,000 and less. heays it's time to make a change and now people on the hill saying that the g.o.p. is splintering. what do you say? >> that's not true. actually, what tom was trying to say was it's a tax call thing. tom is against raising taxes on any level. he's against raising taxes on all folks, but have agreement with the president onhis group that's $250,000 and less, clear the table and make the bracket.ions in the upper he's against raising r
it never has been a tax issue. we have the same amount of revenue coming in in 2012 tat we had in 2007, but we spend a trillion dollars more per year now th we did five years ago. thiss a spending issue. gerri: spending or revenue, that is, the amount of money taken in by the federal government has recovered, and it's doing much better. >> right. gerri: turning your tarns to a conversation going on for days lately. the most recent adherent oklahoma congressman tom cole saying, look,...
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Dec 6, 2012
12/12
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there is no net rising taxes today. any taxes increased are offset by taxes. mr. speaker, in last year's autumn statement, we maintained the same piece for consolidation beyond the current spending in 2015 and 2016 and 2017. in this year's autumn statement, we extended the consolidation program for the year is 2017. the opr project as that as a result, the share of national income spent by the state will fall from almost 40% of gdp in 2009 and 2010, to 39.9% 52018. the document shows total management expenditure will continue to fall and will now people are willing to go and 2018 and if it had been held flat in real time. no decisions to cut this is ever easy. those who said we would have higher taxes or higher borrowing or both. i also provide further details of the consolidation plans for 2015 and 2016, last year at this parliament. as the two years ago that the correct balance for the fiscal consolidation between spending and tax should be 80-20. i can announce that we will almost be exactly able to deliver on that mix. total spending will fall in the final yea
there is no net rising taxes today. any taxes increased are offset by taxes. mr. speaker, in last year's autumn statement, we maintained the same piece for consolidation beyond the current spending in 2015 and 2016 and 2017. in this year's autumn statement, we extended the consolidation program for the year is 2017. the opr project as that as a result, the share of national income spent by the state will fall from almost 40% of gdp in 2009 and 2010, to 39.9% 52018. the document shows total...
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is it a tax deduction for the rest next? >> reporter: ♪ gerri: one source of new revenues under discussion in the fiscal of today limiting deductions for the wealthy, even charitable deductions. it's a controversial idea that has cut and a lot of attention following a recent washington post op-ed. overwhelmingly the charitable deduction benefits the wealthy. here to discuss, president of independent sector and stacey stewart, president of the united weight both of whom met at the white house with the president. white house officials pleading there case. i can't imagine having to better guess for this segment. i want to start with this idea because it kind of blew me away when i saw. a major beneficiary for the charitable deddction, the %-i thought what about that charities and all the people who do -- to rely on them for there good work. let's start with you. entellus the, you know, who does benefit from the charitable deduction? who does your charities serve? >> the notion that the charitable deduction benefits the wealth
is it a tax deduction for the rest next? >> reporter: ♪ gerri: one source of new revenues under discussion in the fiscal of today limiting deductions for the wealthy, even charitable deductions. it's a controversial idea that has cut and a lot of attention following a recent washington post op-ed. overwhelmingly the charitable deduction benefits the wealthy. here to discuss, president of independent sector and stacey stewart, president of the united weight both of whom met at the white...
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org i mean paid smart sorry paying a smaller tax than my secretary paige. but we knew what it meant yeah yeah listen if a dollar a dollar and we're taxed accordingly and you do that for the so security system and all dollars were taxed equally out of the social security system so security would be solvent forever and a dollar a dollar of the medicare system medicare would be solvent for ever and if a dollar a dollar under the income tax system and that includes corporate dollars we'd be very close to a balanced budget so what's wrong with that idea makes perfect sense to me the conundrum is how do you convey that to the american people after all these years of indoctrination i mean it's amazing i'm on my radio show you know we take calls and i get these you know red state republicans you know people making twenty five thirty thousand dollars a year sharpening chainsaws call and of course you can't raise the taxes on rich people it's going to do away with our jobs i heard it on sean hannity you know it's just what do we see. the same dollars a dollar a dolla
org i mean paid smart sorry paying a smaller tax than my secretary paige. but we knew what it meant yeah yeah listen if a dollar a dollar and we're taxed accordingly and you do that for the so security system and all dollars were taxed equally out of the social security system so security would be solvent forever and a dollar a dollar of the medicare system medicare would be solvent for ever and if a dollar a dollar under the income tax system and that includes corporate dollars we'd be very...
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Dec 3, 2012
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there are the tax so-called charitable foundations who pay no taxes. two of the richest men in our country, warren buffett and gates put all their $140 billion into a charitable trust. i like to hear your comments about these things. host: do you take advantage of deductions? caller: very little. they tax my social security. host: ok. john mckinnon. guest: the caller makes two good points. major corporations pay lower tax rates. high-tech companies pay very low tax rates. this is a problem that companies around the world are a part of. u.s. companies are not the only ones. there is a global race to the bottom in terms of tax rates. there are lots of tax havens around the world and these countries are taking advantage of these tax haven countries. some of them are big western european countries. it is a problem that leaders of governments around the world are trying to address but it is difficult. there is global competition for the business of these companies. they are drawn to the countries with the lowest tax rates. the companies will say they do pay
there are the tax so-called charitable foundations who pay no taxes. two of the richest men in our country, warren buffett and gates put all their $140 billion into a charitable trust. i like to hear your comments about these things. host: do you take advantage of deductions? caller: very little. they tax my social security. host: ok. john mckinnon. guest: the caller makes two good points. major corporations pay lower tax rates. high-tech companies pay very low tax rates. this is a problem that...
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instead, signaling they're open to raising revenue by limiting the tax code. it's a major sticking point. holding up a deal. >> right now, i'd say we're nowhere. >> reporter: president obama is looking for $1.6 trillion in new tax revenue over ten years. speaker boehner is offering half of that. there's $600 billion. the speaker says that's not enough. although he hasn't outlined what he thinks should be cut. if they can't avoid the fiscal cliff, it means on january 1st, every american will pay more income tax, between 2,000 to $2,200 for the average family. $500 billion in automatic spending cuts will go into effect. half of that at the pentagon. the other half coming in transportation, food safety and research. economists feel if washington can't strike a deal, the economy will fall back into recession and the unemployment rate will shoot up, rob and paula. >> tahman, the clock is ticking in all of this. where do the talks go from here this week? >> well, the white house said president obama presented his plan last week and the gop leaders shot it down. now,
instead, signaling they're open to raising revenue by limiting the tax code. it's a major sticking point. holding up a deal. >> right now, i'd say we're nowhere. >> reporter: president obama is looking for $1.6 trillion in new tax revenue over ten years. speaker boehner is offering half of that. there's $600 billion. the speaker says that's not enough. although he hasn't outlined what he thinks should be cut. if they can't avoid the fiscal cliff, it means on january 1st, every...
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Nov 28, 2012
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on the tax issue the republicans are playing defense. if they don't act the white house is ready to blame this on them in terms of going off the cliff. after coming out of the election where the republicans nuclear a hit the white house hopes they will not want to take another big blow after the election so quickly. >>shepard: powerball sales are skyrocketing, upping the jackpot and the odds someone will win the big surprise tonight. it is at $550 million. that is a record for powerball. the odds are slim of swinging, 1 in 75 million but zero chance if you don't buy. people are dreaming. >> i felt my whole life i was supposed to be rip. >> pay the bills and house off. not have to work. ever again. >> i have 17 charities first. they come first. >> i want to buy a house. >> how will you spend it? >> take a day off. >> officials say this is a 75 percent chance now that someone or multiple somebodies will win tonight. rick is on long island, new york. a lot of folks there open for reversal of fortune. rick: they are. everyone here is telling
on the tax issue the republicans are playing defense. if they don't act the white house is ready to blame this on them in terms of going off the cliff. after coming out of the election where the republicans nuclear a hit the white house hopes they will not want to take another big blow after the election so quickly. >>shepard: powerball sales are skyrocketing, upping the jackpot and the odds someone will win the big surprise tonight. it is at $550 million. that is a record for powerball....
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Dec 4, 2012
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it's not the tax cuts going into effect. and -- >> you mean the millions of dollars -- >> the cuts that will be forced through in the next two years. that's a much bigger risk to the economy. >> therefore? >> therefore, if the president lets this thing -- look, the markets have already priced this in. >> i hear the opposite. i hear that they believe that grown-ups will do the job when they have to. they don't believe they're going to let us go over theically. >> i don't think the grown-ups believe they have to do the job by january 1st. i believe they believe the grown-ups have to do the job by january 30th or february 15th. >> they're going to believe the politicians can get the job done when they failed to get it done by january 1st. >> i hear what steve is saying there. i'm standing in your camp which is a rare spot for me to be in, standing in chris' camp here but i think you're right. i think the markets have not baked this into their equation. >> dysfunction and childishness. >> it has nothing to do would my bottom lin
it's not the tax cuts going into effect. and -- >> you mean the millions of dollars -- >> the cuts that will be forced through in the next two years. that's a much bigger risk to the economy. >> therefore? >> therefore, if the president lets this thing -- look, the markets have already priced this in. >> i hear the opposite. i hear that they believe that grown-ups will do the job when they have to. they don't believe they're going to let us go over theically....
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Dec 4, 2012
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tax reform. it would be in the tax reform process that there would generate -- and they would generate $800 million -- $800 billion in revenue. and they say the $800 billion could be raised without raising tax rates, and this is something that is in dispute with the white house. the white house said there would be no deal unless republicans agreed to increase tax rates on the wall the next year. >> what do the republicans say about the debt limit, sequestration, automatic spending cuts, and changes to entitlement programs? >> that was not addressed. the white house offered to make permanent the changes. republicans are not proposing to raise the debt limit at all. but if you ask their aides, they told us that the speaker would be open to increasing the debt limit, but he is sticking by his role that any increase must be accompanied by cuts and/or reforms. it could be on the table. entitlements, they are not laying out this was a big changes to medicare and medicaid. what they are saying is they w
tax reform. it would be in the tax reform process that there would generate -- and they would generate $800 million -- $800 billion in revenue. and they say the $800 billion could be raised without raising tax rates, and this is something that is in dispute with the white house. the white house said there would be no deal unless republicans agreed to increase tax rates on the wall the next year. >> what do the republicans say about the debt limit, sequestration, automatic spending cuts,...
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Nov 28, 2012
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will the tax deduction for your mortgage be sacrificed to fix the federal budget? nancy cordes and dean reynolds look at the proposals. elizabeth palmer shows us what a dictatorship doesn't want you to see: the ruin of a nation in civil war. and africa's mighty elephants are slaughtered for their tusks. so who's buying that illegal ivory? holly williams shows us in a hidden camera investigation. >> oh, wow. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. today susan rice had high hopes for what might have been the most important diplomatic mission of her career so far. but the u.s. ambassador to the united nations' attempt to reach agreement with republican senators today failed. rice is a favorite of the president's to be nominated as secretary of state to replace hillary clinton. if he does nominate race, she would have to be approved by the senate. margaret brennan is covering for us tonight. margaret? >> reporter: good evening, scott. ambassador rice asked for the meetings on capitol hill today in hopes of
will the tax deduction for your mortgage be sacrificed to fix the federal budget? nancy cordes and dean reynolds look at the proposals. elizabeth palmer shows us what a dictatorship doesn't want you to see: the ruin of a nation in civil war. and africa's mighty elephants are slaughtered for their tusks. so who's buying that illegal ivory? holly williams shows us in a hidden camera investigation. >> oh, wow. captioning sponsored by cbs this is the "cbs evening news" with scott...
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here iwhat i want in tax increases. by the way i will increase in ending on infrastructure just to show starting from a point where he believes he has real strength and will stick it to the other side. what do you think of the counterproposal from republicans. is it strong or looking weaker? >> with any negotiation with the president's side t especially a few weeks ago, maybe you come out and shoot for the top, knowing you may not meet in the middle. i don't know if they will meet and splithe baby. melissa: right. >> do i think you always know at eventually you will have to rear back a little bit towards the middle. melissa: yeah. >> as far as the republicans counter, i think they're trying to at least in certain, especially with government. there is always posturing, right? melissa: right. >> partly it is posturing hey, we're willing to talk. here's what we're thinking to at least try to jump-start this as the clock continues to kick. melissa: when you look at the nuances what is going on in the media, yesterday everyb
here iwhat i want in tax increases. by the way i will increase in ending on infrastructure just to show starting from a point where he believes he has real strength and will stick it to the other side. what do you think of the counterproposal from republicans. is it strong or looking weaker? >> with any negotiation with the president's side t especially a few weeks ago, maybe you come out and shoot for the top, knowing you may not meet in the middle. i don't know if they will meet and...
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Dec 5, 2012
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we should do real tax reform. if there are loopholes, there is a loophole for being able to write off your yacht as a second home. let's go after that. we need more revenue and the way you do that is through rapid economic growth. it's the only way to generate the kind of revenue you need and hold it. >> what's the only way you would raise tax rates on the top 2%? >> the number one issue is to grow the economy and creating jobs. i believe that proposal will hurt job creation. the tru millionaires, they have the best accountants and lawyers in america. do whatever you want, they are go to go maximize it. the people who get crushed, the small s corporation who can't afford to do this in the tax code and ends up getting creamed. they have to get the money from somewhere. though can lay off workers, and none of those things are good for our economy. it's about growth. this stuff hurts growth. the president has a tax increase that will help grow the economy. i'm interested to hear about it. >> you would vote against th
we should do real tax reform. if there are loopholes, there is a loophole for being able to write off your yacht as a second home. let's go after that. we need more revenue and the way you do that is through rapid economic growth. it's the only way to generate the kind of revenue you need and hold it. >> what's the only way you would raise tax rates on the top 2%? >> the number one issue is to grow the economy and creating jobs. i believe that proposal will hurt job creation. the...
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Dec 1, 2012
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that is their tax bill after they hit the lottery jackpot. mark and cindy hill claimed their share of the record $588 million power ball jackpot. that's their six-year-old daughter jayden whom they adopted from china and her big brothers. cindy, who lost her job two years ago, was the first to know that they'd won. >> i didn't find out until the next day after i'd taken my daughter to school and i went by to see what the numbers were and i got back in my car and i didn't have my glasses and i was thinking "is that the right numbers, is that the right numbers?" and i was shaking and i called my husband and i said "i think i'm having a heart attack." >> pelley: the hills take home $135 million after taxes. mark hill, a mechanic, is quitting his job. >> i talked to my boss over the phone. he didn't belief me. later he called back and said "really?" i said "yup, really." >> pelley: there was one other winning ticket purchased outside phoenix but we don't know who the owner is yet. the fledgling egyptian democracy just got its first draft constitu
that is their tax bill after they hit the lottery jackpot. mark and cindy hill claimed their share of the record $588 million power ball jackpot. that's their six-year-old daughter jayden whom they adopted from china and her big brothers. cindy, who lost her job two years ago, was the first to know that they'd won. >> i didn't find out until the next day after i'd taken my daughter to school and i went by to see what the numbers were and i got back in my car and i didn't have my glasses...
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if you only got it to tax and how much of youthspan neon texting? -- text and how much are you spending for texting? >>guest: i cannot remember ifit is free or 99¢.you use your fingers or we include a. it is easy to type with a stylus. you can be a lot more precise. >>host: wow are we busy and use express ordering if you can. if you shop here before, it actually allows you to but ahead in line.literally typing your telephone number and it will ask your zip code and is no hard questions like how old are you or how much do you weigh? % not want to answer. [laughter] also the flex pay committee to do all that and you can pay for6 c13 -- we will pay for the shipping and handling even if you are going to send it to someone else. it is free to get it to their door. sent in to minnesota or california or new york. -- send we have had thousands of new shoppers in the last day and you can get more than one of these also. you can also use flex pay more than once. many times the limit per but we are not doing that here. you may want to talk in a way for gradua
if you only got it to tax and how much of youthspan neon texting? -- text and how much are you spending for texting? >>guest: i cannot remember ifit is free or 99¢.you use your fingers or we include a. it is easy to type with a stylus. you can be a lot more precise. >>host: wow are we busy and use express ordering if you can. if you shop here before, it actually allows you to but ahead in line.literally typing your telephone number and it will ask your zip code and is no hard...
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the number one thing to understand already even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to the cleaners just what happened in 1990 when read my lips. melissa: would you rather we went over the fiscal cliff? >> compared to what obama's talking about, the fiscal cliff might be better because obama not only wants soak the rich tax increases that would automatically happen, he then wants additional taxes on top of that would be very bad for american competitiveness. we don't want to send jobs to china and india but almost as if obama wants to do that. at least if we went over the cliff, we would get the sequester, which is the budget wonk term for automatic reductions in the growth of spending. melissa: absolutely but i'm not sure republicans are giving in as much as you think. if you drill dow
the number one thing to understand already even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to the cleaners just what happened in 1990 when read my lips. melissa: would you rather we went over the fiscal...
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Dec 6, 2012
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what's going to be certain is taxes are going up. either we go off the cliff or the curb and then taxes rise for everybody and then maybe they get repealed for the middle class and others or we reach a deal and taxes go up for the wealthiest 2% and everybody else breathes a sigh of relief. there's some $2 trillion in cash sitting on the balance sheets of corporate america waiting to be put to work. the reason it hasn't been put to work is because of uncertainty. taxes are going to go up, the deficit is going to be reduced, some of that money is going to be released. just like ed schultz said, this is all very good news for the american economy. >> so basically the uncertainty is what's providing the certainty moving forward because people across the country will look at this and the hand wringing that's taking place in washington, d.c. back and forth. the framework that could come out of this could mean a much better booming economy? >> i think so. what's been holding back the 2d trillion on the sidelines is corporate ceos didn't kno
what's going to be certain is taxes are going up. either we go off the cliff or the curb and then taxes rise for everybody and then maybe they get repealed for the middle class and others or we reach a deal and taxes go up for the wealthiest 2% and everybody else breathes a sigh of relief. there's some $2 trillion in cash sitting on the balance sheets of corporate america waiting to be put to work. the reason it hasn't been put to work is because of uncertainty. taxes are going to go up, the...
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Nov 28, 2012
11/12
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the stock market, $6 trillion in tax increases, $1.2 trillion in deep spending cuts. for the average middle class family, $2,200 in higher taxes. >> that would be a hard christmas holiday for all the members of congress to face if they do that. >> absolutely. >> okay, jake tapper, good to have you in new york. >> thank you. >>> and we head now to the middle east tonight to tahrir square the birthplace of the spring in egypt almost two years ago and once again egyptians are protesting this time trying to hold on to their democracy during a turbulent november. and abc's alex marquardt was on the scene in cairo today. >> reporter: the birthplace of egypt's revolution today once again ringing with calls for the downfall of a dictator. [ speaking a foreign language ] >> reporter: this time it's for this man, president mohammed morsi whom america relies on to be a regional peace broker. it has led to days of bloody clashes. the crowed is chanting erhal, or leave. these are many of the same chants we heard two years ago during the revolution, except that they've substituted
the stock market, $6 trillion in tax increases, $1.2 trillion in deep spending cuts. for the average middle class family, $2,200 in higher taxes. >> that would be a hard christmas holiday for all the members of congress to face if they do that. >> absolutely. >> okay, jake tapper, good to have you in new york. >> thank you. >>> and we head now to the middle east tonight to tahrir square the birthplace of the spring in egypt almost two years ago and once again...
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Nov 29, 2012
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versus the 2013 tax code. we're glued each week to the jobless claims and they come out at 8:30 and right now they aren't going up or down and that's because business is frozen. if you're thinking about creating a business, you want to know if you sell it you get a good capital gains rate. if you're a ceo, you saw the recession going over the fiscal cliff caused you don't want to be hiring. you might have to be firing in january. if we miss the deadline the market will get pounded every thursday as the claims spike because of mandated layoffs particularly in a military industrial complex. people will lose that right in 2013. and thousands of other companies are slimming down because, hey, we failed to rise above. when that happens, believe me, you'll want every bit of this mountain gear. you'll want the ice ax. man, we got to use this. this will no longer just be a key chain because if we're cl m climbing out of the cliff you need to be the first there and with the best stocks. i envision all segments of the m
versus the 2013 tax code. we're glued each week to the jobless claims and they come out at 8:30 and right now they aren't going up or down and that's because business is frozen. if you're thinking about creating a business, you want to know if you sell it you get a good capital gains rate. if you're a ceo, you saw the recession going over the fiscal cliff caused you don't want to be hiring. you might have to be firing in january. if we miss the deadline the market will get pounded every...
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Dec 6, 2012
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these taxes the president wants. if begive him all tax increases it pays for 8 and a half days of government. it doesn't do anything for middle class it will destroy middle class job creation. the more we tell people that the stronger we will be in being able to negotiate a solution moving forward. >> bill: handicap it real quick, is it going to happen or go into january with chaos? >> at a minimum what i hope is that we'll be able to do something here that avoids this fiscal cliff which is a creation of congress. it's a bipartisan creation. this fiscal cliff is the result of the last fiscal cliff. >> bill: that put a date on there. >> yeah. >> bill: may extend the date that's what i think is going to happen. >> my hope is is that we can avoid the bad stuff. then we have to deal with the 16 trillion-dollar debt that $1 trillion a year in deficit spending. we have to solve that. that thing is not going to solve itself. >> bill: doesn't feel like the president feels the urgency that you feel. you are one of the leaders
these taxes the president wants. if begive him all tax increases it pays for 8 and a half days of government. it doesn't do anything for middle class it will destroy middle class job creation. the more we tell people that the stronger we will be in being able to negotiate a solution moving forward. >> bill: handicap it real quick, is it going to happen or go into january with chaos? >> at a minimum what i hope is that we'll be able to do something here that avoids this fiscal cliff...
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they could tax them. they could for give those interest rates all together or they have seen talked about for giving some of these students loans that exist out there today. because 93 percent of all student loans in the last year were issued by the government you are talking about taxpayers ofrnt hook for this. as it goes away we are all paying for it. this is a huge problem in this country nearly a trillion dollars in outstanding student debt right now. 956 billion on the table. >> so what is the solution? >> they certainly -- -- the president has talked about interest rates are a big problem right now. record survey shows more than 50 percent of 18 to 24-year-olds are moving into their parents when they grad kuwauate college. they have capped the interest rates for give them for a certain amount of time or forgive a certain amount of debt or back off at issuing the federal loans patti. let the loans go more private maybe then we won't have colleges jacking up the tuition rates and making it hard for ev
they could tax them. they could for give those interest rates all together or they have seen talked about for giving some of these students loans that exist out there today. because 93 percent of all student loans in the last year were issued by the government you are talking about taxpayers ofrnt hook for this. as it goes away we are all paying for it. this is a huge problem in this country nearly a trillion dollars in outstanding student debt right now. 956 billion on the table. >> so...
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Dec 1, 2012
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if we could just pass a tiny tax on the speculative stock transactions, a robinhood tax, we could actually generate up to $350 billion, and i said billion dollars a year. every single year. that would be more than enough money to end the aids pandemic and to have money left over for the largest jobs program that we ever dreamed of and enough money to fight against climate change so us up here in new york won't have to face things like hurricane sandy, again. a robinhood tax to end aids rather than talking about cuts that really only affect the poorest and most vulnerable people who have been stripped naked, had everything taken away from them for decades. like people who rely on medicaid and social security the housing opportunities for persons with aids, ryan white, the president's emergency plan for aids relief and the global fund fight aids, malaria. we know we can fight aids, but we have to get in it. >> i want to talk about that in just a moment. the president's emergency plan for aids relief. an acronym and the secretary listed five points to end the spread of hiv and aids. a drop of
if we could just pass a tiny tax on the speculative stock transactions, a robinhood tax, we could actually generate up to $350 billion, and i said billion dollars a year. every single year. that would be more than enough money to end the aids pandemic and to have money left over for the largest jobs program that we ever dreamed of and enough money to fight against climate change so us up here in new york won't have to face things like hurricane sandy, again. a robinhood tax to end aids rather...
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that would be tax-free income. that would be a way of tax avoidance. there are some legitimate worries about debt forgiveness. i think there is a logic to doing it forever. as long as you are sure it is a city with a decline in property value and losing the home, it is not really tax evasion. why did they do it for five years? we have a political department that might be better at answering that. host: what was the housing market like in the 2007? make a comparison of what was going on in 2007 and what is happening now. guest: it was beginning to tank. values peaked around 2006 and in some places 2007. it is the year we began to see the foreclosures and the problems with a sub prime mortgages. the context was, we were not in a recession yet. it was not like 2007 -- 2008 when everyone had a problem. in 2007 it was clear there were going to be a lot of defaults and this was potentially a problem. this tool can be an efficient way of handling what would otherwise be expensive foreclosures. host: we want to make sure the viewers understand what we are talk
that would be tax-free income. that would be a way of tax avoidance. there are some legitimate worries about debt forgiveness. i think there is a logic to doing it forever. as long as you are sure it is a city with a decline in property value and losing the home, it is not really tax evasion. why did they do it for five years? we have a political department that might be better at answering that. host: what was the housing market like in the 2007? make a comparison of what was going on in 2007...
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because they refuse to let tax rates go up on the richest americans. >> republicans say tax hikes on the wealthy mean tax hikes for small businesses, something they insist they cannot accept. here is long-time gop senator orin hatch. >> unfortunately, some on the other side of the aisle are indicating a disastrous thelma and louise idea, that will put us in jeopardy, for small business and other parts of the economy. >> they agreed that tax cuts should be renewed for everybody making less than $250,000 a year. but democrats want the tax cuts for the very wealthy to expire. >>> and reigniting the trayvon martin debate, and whether the famous "stand your ground law" should be out lawed. and may havs where bacteria can multiply. polident is designed to clean dentures daily. its unique micro-clean formula kills 99.9% of odor causing bacteria and helps dissolve stains, cleaning in a better way than brushing with toothpaste. that's why i recommend using polident. [ male announcer ] polident. cleaner, fresher, brighter every day. a new way to save on your prescriptions. it's the aarp medica
because they refuse to let tax rates go up on the richest americans. >> republicans say tax hikes on the wealthy mean tax hikes for small businesses, something they insist they cannot accept. here is long-time gop senator orin hatch. >> unfortunately, some on the other side of the aisle are indicating a disastrous thelma and louise idea, that will put us in jeopardy, for small business and other parts of the economy. >> they agreed that tax cuts should be renewed for everybody...